Sony CEO Kazuo Hirai revealed a three year plan to bring the Japanese electronics company back to profitability, by lowering investment in poorly performing divisions or potentially selling them, alongside investing more heavily on profitable divisions.
The new plan comes after Sony sold the PC division to Japanese Industrial Partners for an undisclosed amount, removing the VAIO brand from its portfolio.
Hirai claims both the TV and phone division are still up for sale, which will include the Bravia and Xperia brands. Sony is looking to potentially move away from manufacturing as well, interested in setting up partnerships for its failing phone business.
The TV division has suffered from a series of bad decisions, including the investment in plasma and 3D. It is failing to compete with Samsung’s own TV division, and even companies like LG and Panasonic are starting to take market share away in the U.S. and Europe.
Not all is bad for Sony, hence Hirai’s plan to bring it back to profitability. It will start with investment in PlayStation, music and image sensors, the three main divisions that are maintaining profitability.
Sony is also managing a steady profit on financial services in Japan, allowing it to maintain a strong asset at home if it needs to enter new markets or continue investing in current markets.
The change in brand identity from Sony to PlayStation means the Japanese company is confident that gamers will buy into music, movies, TV shows and video games under the brand.
Sony has a long way to go and many potential shakeups in the world, as it moves towards technologies and software more-so than hardware and mobile. It could all work out well for Sony, considering the success Nokia and BlackBerry had after removing parts of the company.